GameStop, the retail video game company, announced that its board of directors has approved an update to its investment policy to include Bitcoin as a reserve asset in its treasury. This decision follows an executive order signed by President Donald Trump to create a strategic reserve for digital currencies, reflecting the growing trend towards the adoption of digital currencies at the institutional and governmental levels.
In a related context, GameStop announced strong earnings in the fourth quarter of 2024, with a net income of $131.3 million, up from $63 million in the same period last year. This increase is attributed to the company's efforts to reduce costs and improve operational efficiency. However, revenues fell to $1.28 billion from $1.79 billion in the previous year, indicating the ongoing challenges the company faces amid the shift towards digital downloads and online gaming.
This move by GameStop demonstrates the increasing trend among companies to adopt digital currencies as part of their financial strategies, which could have widespread effects on the digital currency market and the economy in general.
Do you think this decision will affect the volatility of Bitcoin's price in your opinion?...#bitcoin #Binance $BTC
